The oil giant ExxonMobil will write off assets worth $ 17-20 billion. The company intends to abandon several of its projects, says plan strategic development of the enterprise.
These include the development of dry gas fields in the Appalachian and Rocky Mountains, in Oklahoma, Texas, Louisiana and Arkansas in the United States, as well as in western Canada and Argentina. Cancellation of projects will write off billions of dollars in assets.
Exxon will also cut 15 percent of its global workforce by the end of 2021 to keep costs down. At the end of the third quarter, the company’s losses amounted to $ 680 million. In the same period last year, the oil giant posted a net profit of $ 3.2 billion.
In August, ExxonMobil was excluded from the Dow Jones Industrial Average, although she was its oldest member. The presence in the index affects the investment attractiveness of companies.